LifeVantage celebrates 10th Anniversary, looks ahead to another decade of biohacking
LifeVantage celebrated its 10th anniversary over the weekend at its Elite Academy in Kansas City, and CEO Darren Jensen kicked off the party by taking the approximately 5,000 in attendance on a trip down memory lane.
May 2019 marked the company’s anniversary in the direct selling industry. With roots dating back as early as the 1980s, LifeVantage was founded in 2003 and operated under a retail model before, in Jensen’s words, finding its “true calling” in network marketing in 2009.
Since that time, the company has evolved from a single product company – its flagship Protandim® NRF2 SynergizerTM* that is clinically proven to reduce oxidative stress in humans – and 127 founding pioneers into a publicly-traded company with a growing family of products in a variety of product categories in 15 markets around the world.
“We began in a lab with a single, powerful scientific discovery – a discovery that proved we, as humans, have more capacity, potential, and ability within us than we had been led to believe,” Jensen said.
Unlocking that potential became the company’s mission. The company helped pioneer a new science known as nutrigenomics – the study of how nutrition affects biology and gene expression – and began building its business strategies around biohacking, the idea that you can take control of your biology.
“We ended up turning biohacking into a movement in the process,” Jensen said. “It’s a movement that has become a global phenomenon with no signs of slowing down.”
After honoring the early LifeVantage pioneers, Jensen’s focus shifted to the future, specifically the next decade.
“We have been pioneering since day 1, and over the next 10 years, we’re going to have to do it some more,” Jensen said “We’re not going to change our business model, but in the tides of a rapidly changing world, you can’t tread water. You have to constantly pioneer.”
Jensen lauded the company’s retention rates, which are among the best in the industry. He also praised the activity rate of new enrollees – of those who enrolled in 2018, nearly half enrolled new customers or distributors. He challenged attendees, however, to escalate their efforts on bringing new customers and distributors into the business – with a goal of increasing active members with a monthly product subscription to 300,000 – and outlined four main objectives to help get there.
Increasing Biohacker Subscriptions
Jensen announced that a new product – an extension to the Protandim® family – is currently in production and will launch in October at LifeVantage’s Global Convention in Long Beach, Calif.
“This is more than just a new addition,” he said. “It’s a game-changing product that will give our customers and distributors a powerful new way to enhance their business and health.* The more we learn about nutrigenomics, the more we realize what it can do. And we’re so excited to bring this new product to market.”
To further incentivize subscriptions, the company will also begin offering free shipping beginning in January 2020.
Attracting & Creating Influencers
To this end, Jensen announced a new event cadence. LifeVantage will begin taking the Elite Academy experience to more locations in the form of regional or “mini” Elite Academies. LifeVantage will also introduce an event that will be known as Destination EA and be one-part training and one-part incentive/experience. The inaugural Destination EA will be in Cancun, Mexico, in February. The company will also host a new Influencer incentive trip for the Top 50 Pro 3 generators.
The “Uberfication” of LifeVantage
The company has its sights set on making it as easy to build at LifeVantage as it is taking an Uber and continues to optimize its distributor app. The company will also be integrating a daily pay model into its commission structure in 2020.
Building a Solid Foundation for Future Growth
Jensen announced that the company is exploring alternative home office locations along Utah’s Wasatch Front and is increasing its focus and energy on cybersecurity.
Jensen closed by citing Microsoft founder Bill Gates who has attributed part of his success to the fact that he has focused in on “a few things.”
“As we sharpen our focus on these things,” Jensen said, “our first 10 years will be just the opening act for the next 10 years.”
*These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.